Worth reading
90Important
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Mixed performance
Direction inferred from the company’s description.Scale
1
Years (extension of the plan period)Wording
Conditional
How definitive the wording is.Items stated in the management plan
Formulation and extension of the period covered by the previous planNet Sales+29.8%
基準 8,475Target11,000million
Operating profit+0.2%
基準 2,025Target2,030million
ROE+5.0pt
基準 2,025Target2,030%
Each line is the climb from the baseline the document states to the target it sets. The slope is scaled against the largest climb in this document. For metrics expressed as percentages, differences are shown in percentage points (pt).The increase shown by the dotted line is calculated from the two reported figures because the company did not provide the amount of growth.
What happened to the previous planRevenue of ¥11.0 billion, operating profit of ¥1.05 billion, ROE of 5.9% (targets for the fiscal year ending December 2025) → Revenue of ¥8,475 million, operating loss of ¥230 million, ROE of negative 29.2% (actual results for the fiscal year ended December 2025)（Revenue: approximately 23.0% decrease; operating profit and ROE: difficult to calculate）+318.5%Calculated from the two disclosed figures
Total investment planTotal funds to be raised through stock acquisition rights: approximately ¥610 million
Investment amount by sectorField R&D expenses for growth / Amount ¥100 million, Field Capital Expenditure Funding / Amount Approximately ¥510 million
Statements about the use of capital
Payout ratio / DOE policyFrom dividends for fiscal 2024 onward, a consolidated dividend payout ratio of 30% or higher will apply. However, consolidated DOE of 1.0% will serve as the minimum dividend level. The applicable period is fiscal 2024 onward.The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Self-assessment of PBR and share priceThe company recognizes that its share price declined against a backdrop of weak performance, concerns about dilution from the issuance of stock acquisition rights, and a lower dividend level. The share price remained around ¥1,500 in 2025.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01Strengthening the core business (expansion and growth, transformation and improvement)
02Creating new products and new businesses
03Strengthening Cost Competitiveness
04Investment in Human Capital
05Expand human capital
06Measures to increase employee engagement
07Fostering an organizational culture of passion, cooperation and challenge
08SCOPE 1 initiatives
09SCOPE 2 initiatives
10Business portfolio transformation (selection and concentration based on the company's strengths and growth potential)
11Launching a project to advance business strategy
12Introducing concurrent engineering
13Selling listed cross-shareholdings with the aim of having zero holdings
14Further enhancing information disclosure
Plan assumptionsThe plan assumes that the business environment will undergo discontinuous and uncertain changes., In light of the substantial impairment loss recorded in the fiscal year ended December 2025, the company aims to have zero holdings of cross-shareholdings by the end of the fiscal year ending December 2026.
Non-financial targetsIndicator name Reduction rate for SCOPE 1 and SCOPE 2 emissions at locations in Japan / Target value 30% reduction from FY2019 / Timing FY2030
Risks identified by the company
Discontinuous and uncertain changes in the business environment
Sluggish orders in domestic and overseas markets
Persistently high raw material prices and energy costs
Weak share price and tradable share market capitalization
Concerns about dilution from stock acquisition rights and failure to exercise them
Market volatility risk
Delisting risk
Reason for revision or withdrawal
The plan was changed in light of the severe business environment currently facing the company. The change is intended to enable the PDCA cycle to function at an early stage so that the company can respond immediately to changes in the environment. The change is also intended to improve and expand revenue and earnings by using business portfolio analysis to select and concentrate on areas based on the company's strengths and growth potential, and to allocate management resources effectively.
| Item | Details |
|---|---|
| Plan name | Medium-Term Management Plan (2026–2030) |
| Plan period | Fiscal years ending December 2026 to December 2030 |
| Progress against the plan | Formulation and extension of the period covered by the previous plan |
| Sales Target | 2025 actual: ¥8,475 million → 2030 target: ¥11,000 million（Approximately 29.8% increase） |
| Operating profit target | 2025 actual: negative ¥230 million → 2030 target: ¥1,000 million |
| ROE target | 2025 actual: negative 29.2% → 2030 target: 7.3% (the body of the document also states 5% or higher) |
| Payout ratio / DOE policy | From dividends for fiscal 2024 onward, a consolidated dividend payout ratio of 30% or higher will apply. However, consolidated DOE of 1.0% will serve as the minimum dividend level. The applicable period is fiscal 2024 onward. |
| Self-assessment of PBR and share price | The company recognizes that its share price declined against a backdrop of weak performance, concerns about dilution from the issuance of stock acquisition rights, and a lower dividend level. The share price remained around ¥1,500 in 2025. |
| Total investment plan | Total funds to be raised through stock acquisition rights: approximately ¥610 million |
| Investment amount by sector | Field R&D expenses for growth / Amount ¥100 million, Field Capital Expenditure Funding / Amount Approximately ¥510 million |
| Non-financial targets | Indicator name Reduction rate for SCOPE 1 and SCOPE 2 emissions at locations in Japan / Target value 30% reduction from FY2019 / Timing FY2030 |
| Plan assumptions | The plan assumes that the business environment will undergo discontinuous and uncertain changes., In light of the substantial impairment loss recorded in the fiscal year ended December 2025, the company aims to have zero holdings of cross-shareholdings by the end of the fiscal year ending December 2026. |
| Key initiatives | Strengthening the core business (expansion and growth, transformation and improvement), Creating new products and new businesses, Strengthening Cost Competitiveness, Investment in Human Capital, Expand human capital, Measures to increase employee engagement, Fostering an organizational culture of passion, cooperation and challenge, SCOPE 1 initiatives, SCOPE 2 initiatives, Business portfolio transformation (selection and concentration based on the company's strengths and growth potential), Launching a project to advance business strategy, Introducing concurrent engineering, Selling listed cross-shareholdings with the aim of having zero holdings, Further enhancing information disclosure |
| Results under the previous plan | Revenue of ¥11.0 billion, operating profit of ¥1.05 billion, ROE of 5.9% (targets for the fiscal year ending December 2025) → Revenue of ¥8,475 million, operating loss of ¥230 million, ROE of negative 29.2% (actual results for the fiscal year ended December 2025)（Revenue: approximately 23.0% decrease; operating profit and ROE: difficult to calculate） |
| Reason for revision or withdrawal | The plan was changed in light of the severe business environment currently facing the company. The change is intended to enable the PDCA cycle to function at an early stage so that the company can respond immediately to changes in the environment. The change is also intended to improve and expand revenue and earnings by using business portfolio analysis to select and concentrate on areas based on the company's strengths and growth potential, and to allocate management resources effectively. |
| Risks identified | Discontinuous and uncertain changes in the business environment, Sluggish orders in domestic and overseas markets, Persistently high raw material prices and energy costs, Weak share price and tradable share market capitalization, Concerns about dilution from stock acquisition rights and failure to exercise them, Market volatility risk, Delisting risk |
| Publication date | 17 March 2026 (progress and change to the plan period); 5 March 2026 (formulation of the medium-term management plan) |
Items this document does not state (8)
Operating profit margin targetNet income targetROIC targetTreasury share acquisition policyCost of capitalSegment targetSize of the Target MarketDate of board resolution
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.The plan was not achieved as of the end of December 2025. The main factors cited for the shortfall were sluggish growth in orders for the company's core products in domestic and overseas markets, persistently high raw material prices, sluggish growth in the core business, delays in launching development challenge initiatives, delays in reviewing strategies and tactics in response to market conditions, and insufficient optimization of the allocation of management resources.
How to read this page
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Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.